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How to apply for Joe Biden’s student loan relief 2023

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How to apply for Joe Biden's student loan relief 2021

President Joe Biden extended student loan relief until January 31, 2022, based on Biden’s executive action, your federal student loans aren’t due again until as early as February 1, 2022.

According to Forbes, student loan borrowers will get $110 billion of student loan cancellation

Understanding Loan Forgiveness

Forgiveness, cancellation, or discharge of your loan means that you are no longer required to repay some or all of your loan. Find out more using the links below.

Differences Between Forgiveness, Cancellation, and Discharge

The terms forgiveness, cancellation, and discharge mean nearly the same thing, but they’re used in different ways, if you’re no longer required to make payments on your loans due to your job, this is generally called forgiveness or cancellation. If you’re no longer required to make payments on your loans due to other circumstances, such as a total and permanent disability or the closure of the school where you received your loans, this is generally called discharge.

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Forgiveness, cancellation, and discharge all refer to the cancellation of a borrower’s obligation to repay all or a portion of the remaining principal and interest owed on a student loan but are generally used in different contexts.


“Loan cancellation” and “loan forgiveness” generally refer to the cancellation of a borrower’s obligation to repay some or all of the remaining amount owed on a loan if the borrower works full-time for a specified period of time in certain occupations or for certain types of employers. “Loan cancellation” is usually used in reference to the various Perkins Loan Program cancellation benefits. “Loan forgiveness” is usually used in reference to the Direct Loan and FFEL Teacher Loan Forgiveness Program or the Direct Loan Public Service Loan Forgiveness Program. Borrowers are not required to pay income tax on loan amounts that are cancelled or forgiven based on qualifying employment. 

“Loan discharge” generally refers to the cancellation of a borrower’s obligation to repay some or all of the remaining amount owed on a loan due to circumstances such as school closure, a school’s false certification of a borrower’s eligibility to receive a loan, a school’s failure to pay a required loan refund, or the borrower’s death, total and permanent disability, or bankruptcy. In some cases, a discharge may also entitle a borrower to receive a refund of payments previously made on a loan. Depending on the type of discharge, the amount of a loan that is discharged may be treated as taxable income.

It’s important to remember that outside of the circumstances that may qualify you to have your loans forgiven, cancelled, or discharged, you remain responsible for repaying your loan—whether or not you complete your education, find a job related to your program of study, or are happy with the education you paid for with your loan. Even if you were a minor (under the age of 18) when you signed your promissory note or received the loan, you are still responsible for repaying your loan.

You can apply for Joe Biden’s Student loan relief 2021 via https://studentaid.gov/repayment-forms/



Bernard Bassey is a graduate of Software Engineering from AfriHUB University, Abuja. He is an expert in field journalism, his interest in socio-politics activities is keen.

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